Hi Neil, Cubic had a press release today which gives an outline
of upcoming projects as well as announcing the name change of
their automatic revenue collection group.
Hope they'll be using FRAM in these future projects.
Thursday February 5, 9:30 am Eastern Time
Company Press Release
Cubic Corp. Subsidiary Announces Name Change
SAN DIEGO--(BUSINESS WIRE)--Feb. 5, 1998--Cubic Automatic Revenue Collection Group, a
wholly owned subsidiary of Cubic Corp. (AMEX:CUB - news), Thursday announced that its name has
been changed to Cubic Transportation Systems Inc. (CTS).
The action reflects the company's goal of expanding its expertise to a broader range of services for the
mass transit industry, said John Lincoln, president and chief executive officer of CTS.
''The name change reinforces our strategy of expanding commercial relationships with customers and
using our extensive knowledge of their infrastructures to supply additional services in areas other than
fare collection,'' Lincoln said.
The new name signifies a broader range of services by CTS for the mass transit industry and unites
the previously separate companies formerly known as Cubic Automatic Revenue Collection Group and
New York Revenue Automation, both with headquarters in the United States.
Included under the CTS umbrella are Southern Cubic Pty Ltd., based in Australia; Scanpoint
Technology A/S, based in Denmark; and Cubic Transportation Systems Ltd. and Thorn Transit
Systems International, both of which are based in the United Kingdom.
The companies have collectively installed more than $1.3 billion worth of mass transit automatic fare
collection systems in the world's largest metropolitan centers, including Washington, D.C., New York,
Chicago, London, Kuala Lumpur, Hong Kong, Seoul and Sydney. In the near future, systems
manufactured by CTS will also be in operation in Shanghai and Guangzhou, China, Thailand and
Canada.
Other services provided by the companies, in addition to fare collection, include electrical and
communications/security systems as well as flight information display and central computer integration
for the airliner industry. Cubic Transportation Systems Ltd. is currently undertaking projects at
Heathrow and Gatwick airports in London.
Cubic Corp. is a San Diego-based technology innovator. The 46-year-old company had consolidated
annual sales last year of nearly $390 million. The company and its subsidiaries employ approximately
3,500 people at 24 locations throughout the world.
Contact:
Cubic Corp., San Diego
Gerry Reeves, 619/505-2330 |
